Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report sent to investors on Saturday. The firm issued a hold rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. TD Cowen decreased their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lowered their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a research note on Monday, August 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $18.00 on Friday. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The firm has a 50 day simple moving average of $15.84 and a 200-day simple moving average of $15.69. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -257.14 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. On average, equities analysts expect that Calumet Specialty Products Partners will post -1.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently modified their holdings of the stock. Founders Financial Alliance LLC increased its position in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 3,750 shares during the last quarter. Creative Planning raised its position in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the period. DRW Securities LLC acquired a new position in Calumet Specialty Products Partners in the second quarter valued at $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners during the second quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in Calumet Specialty Products Partners by 2.9% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after acquiring an additional 193,063 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.